Guelph ranked eighth out of 35 cities for most expensive rent prices for a one bedroom apartment in Canada
Rent is on the rise again, with an average rental price for a one bedroom apartment in Guelph at $2,085 in October.
This rental price is up 18 per cent year over year for one bedroom apartments.
These average rental prices are collected from monthly listings on Rentals.ca and the statistics are compiled by Bullpen Research & Consulting.
For a two bedroom in Guelph the average rent is $2,290. This is up 8.3 per cent year over year.
In a list of 35 cities across Canada, Guelph lands in eighth place for most expensive rent.
In nearby Kitchener it is at number 14 out of 35 cities. With a one bedroom in Kitchener at $1,917 on average for rent in October. This is up 20 per cent year over year.
A two bedroom apartment in Kitchener costs on average $2,368, up 26.9 per cent year over year.
Hamilton is ranked number 20 on the list. With an average of $1,749 for a one bedroom in October. This is up 13.3 per cent year over year.
A two bedroom apartment is on average $2,240, up 15.6 per cent year over year.
The top most expensive cities are Vancouver at number one, at $2,576 for a one bedroom. Then followed by Toronto at $2,478 and Burnaby at $2,290.
In all of Ontario there is an annual rent increase of 17.7 per cent. Rent prices have risen 2.2 per cent from September to October of this year.
“In the period since March when interest rates began to rise, the average rent in Canada has increased by 9.2%, which compares to a nearly equivalent 9.9% decline in benchmark resale prices between March and October as reported by the Canadian Real Estate Association,” said in the Rentals.ca report.
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